Ten Years of Planting Trees with the Chesapeake Bay Foundation

An article in this morning’s New York Times points out that four years after the Paris Accords were signed, to rein in greenhouse gases, the very climate catastrophes the accord was designed to avoid are on track for happening, unless the world’s 20 richest countries take the biggest and swiftest steps to turn away from fossil fuels. The article states that two of those countries, the two largest emitters, China and the United States, have actually increased their carbon footprint. Even as I write this, the United States has started the process of withdrawing from the Paris Accords altogether without an alternative plan to reduce emissions. One might conclude that the World is doomed to experience the catastrophic effects of climate change with US emissions rising unchecked by anything. 

But I am more optimistic that we will find a way to meet the challenge with or without federal leadership from our government. Why do I say this? I say this, because I believe in the power of markets and the lure of profitable technological innovations. To keep within the safe limits the article goes on to suggest we must reduce our emissions by 7.6 percent every year between 2020 and 2030. That works out to about a 55% reduction over ten years. 

In our home we have reduced our own energy use by 75% over the past four years since we added solar to our house and purchased an electric vehicle for one of our automobiles. And we did this with an average rate of return of over 11%. Even without the solar on the roof, we were seeing a 50% reduction in our energy bills. So, I am quite confident we have the technology for each and every one of us to do this and do so within the goals we would expect for returns in our 401K’s and in less time than the required ten years. You might ask why not go further all the way to 100% energy reduction or climate neutral? My experience suggests that beyond the 75% we achieved, the last 25% comes with significantly reduced return on investment, so we have simply opted to purchase carbon offsets for the rest.   

Yet American polls suggest that, whereas, a majority of us believe something must be done about lowering our collective carbon footprint, at least half of us think it is the responsibility of someone else, be it the US Corporations causing it, the Federal Government regulating it, or climate deniers who believe nothing is amiss. I think we can all agree this is a problem that cannot be solved by half of us not doing anything and the other half sitting around pointing fingers at others. Because half of us will not lift a finger, the other half of us must double up and seek to be climate (carbon) neutral (50% will not be enough). We can do that by purchasing offsets for the rest of our footprint we cannot otherwise profitably eliminate. 

"But wait a minute", I hear many of you say. "Aren’t carbon offsets simply a game employed by those who want to feel good about doing something, enriching others who merely want to make a buck on the next green thing? And besides, aren’t carbon offsets simply a cost at the bottom of a financial statement with no tangible offsetting savings, ie 0% return on investment? If so, why do I push carbon offsets at all?" 

Well, I do so for the following reasons:

1)     Carbon offsets are a market-based response to the cost of carbon in the atmosphere – we simply must have people and organizations purchasing carbon offsets to provide a price signal to those who could lower their carbon intensities through innovation; 

2)     It is usually cost prohibitive, as I have already suggested, to get to carbon neutrality solely on investments in onsite technology alone, without purchasing carbon offsets;

3)     For the remaining 25% or so of an entity’s carbon footprint carbon offsets can be cost effectively procured in the market place, many instances from your own gas or electric utility;

4)     Some carbon offset opportunities have additional value, either directly in the supply chain or indirectly with additional environmental benefits, such as, clean water;

5)     Some carbon programs reinvest the proceeds into additional projects that can benefit the entity procuring the offsets.

Fortunately here, there are a number of great program opportunities that can be used to procure carbon offsets that lower the footprint to zero. I happen to like our program with the Chesapeake Bay Foundation, because it simultaneously;

a)     Reduces the Carbon Footprint of the procuring Entity;

b)     Cleans and Restores the Chesapeake Bay; 

c)      Directs Carbon Fund Revenues back to projects at or near the procuring Entity;

d)     Has a distinctive and proven track record

Nearly ten years ago, in the summer of 2010, Sterling Planet along with WGL Energy, a natural gas utility based in the Washington, DC metropolitan area, launched the Clean Steps program with the Chesapeake Bay Foundation (CBF) to begin a Carbon Reinvestment Fund (CRF) administered by the CBF with input by WGL and Sterling. Sales of carbon offsets through WGL to offset their customers’ carbon footprint would induce contributions made out of the proceeds from both Sterling Planet and WGL Energy into the CRF. Through matching grants with the federal government (eg; USDA and DOE) CBF would match these donations, sometimes as much as 5 to 1. Since 2010, over $1.8 million has been contributed to the CRF, resulting in an additional federal match on funds of almost $7 million. All in all, for nearly ten years of the program we have seen almost $9 million in funds invested in planting trees to sequester carbon, and help clean up the Chesapeake Bay. 

A total of nearly 200 acres of trees have been planted along streams and creek beds creating a natural filter for removing phosphorous and nitrogen oxides from water draining into the Bay. Many of us, from Sterling Planet and WGL Energy, along with student volunteers have been involved with the plantings every Earth Day since 2011. And Sterling Planet and WGL Energy have regularly presented checks back to CBF to fund more plantings. Each year the cry goes out, “The more you can do to convince your alma mater, your company or your neighbor to participate in this carbon program, the more we can do collectively for the Chesapeake Bay.” Each year the checks get larger and larger. 

And it is Working!

Over these ten years, the Chesapeake Bay, once declared dead by the Baltimore Sun in 1971, has come roaring back to life. The oyster population was among the first to rebound in the Bay. Since 2015, CBF now hosts an annual oyster tasting celebration every March in Washington DC, called "DC on the Half Shell" where patrons are treated to oyster stations from no less than eight different and distinct areas of the Chesapeake Bay, while participating colleges and corporations are recognized for their efforts. And, Chesapeake Bay oysters have returned to the menus of many upstanding seafood restaurants. 

But also it was reported in 2016 that Underwater Grass Comeback Helps Chesapeake Bay, and, with the grasses, blue crab have returned who rely on the grasses for their habitat and safety. With the return of oysters, bay grasses and blue crab, the health of the Chesapeake Bay is clearly on the up-swing. But, according to Will Baker, President of the Chesapeake Bay Foundation, we are not out of the woods yet. And, with lessened importance on climate from the federal government, it is now more important than ever before, for us to step up and make a difference. 

Of the many roads you could take to get yourself, your corporation or your university to carbon neutrality, I would hope one would do so with carbon offsets through the WGL Energy Clean Steps program and the Chesapeake Bay Foundation. And doing so moves each one of us out of the column of finger pointer and into the role of active and responsible environmentalist.